The property is situated fronting onto High Street in the town centre of Wem. The rest of the property fronts directly opposite the town's main car park. The property also benefits from pedestrian access off Chapel Street. The property is approached at the rear by way of a right of way over a car parking area, which is understood to be in the shared use of the surrounding properties.
Wem is an established market town and administrative centre, where all local amenities are available. The property is situated fronting onto High Street, which serves as the main retail street in Wem Town Centre.
The property is situated very close to the main car park which serves the town of Wem.
31 High Street provides a two storey structure at the front comprising a high quality tenanted shop unit.
The property offers the opportunity to acquire a prominent property investment with development potential in a popular Town of Wem.
31a High Street is situated rear the property provides a single storey building that provides total accommodation of approximately 1598ft² (148.44m²). The property structure has been subject to a comprehensive scheme of refurbishment works.
The property would lend itself to a variety of potential leisure, restaurant or office/commercial related uses, subject to the receipt of the relevant statutory consents. The character and physical configuration or the property means that it ideally lends itself to use as a restaurant or a children's nursery, as it is situated at the heart of the town centre of Wem. The shared use of the car parking area makes it ideal for a variety of uses. It also creates the opportunity to residentially convert the rear and create an owner occupied investment.31 High Street
Sales Area 680 ft sq (63.17 m sq)
Rear Preparation Area 137 ft sq (12.73 m sq)
Rear - 31A High Street
Room 1: 562ft² (52.21m²) with up and over door leading to the shared car parking area.
Room 2: 970ft² (90.11m²)
Room 3: 65ft² (6.04m²)
Entrance hallway benefiting from pedestrian access onto Chapel Street
Toilet31/31a High Street is available for sale freehold subject to the following tenancies:
31 High Street - 5 year lease at a rent of £8,250 per annum. A copy of the lease is available from the selling agents upon request.
31a High Street is available for sale freehold. Alternatively the property is available leasehold on a length of term by negotiation at a rent of £5,500 (exclusive) for Year 1 and £6,250 (exclusive) for Year 2.
Guide Price 31/31a High Street £160,000
Guide Price 31a High Street £75,000
Rent 31a High Street £5,500 rising to £6,250 (exclusive) in year 2.31 High Street
Rateable Value: £5,400
Rates Payable 13/14: £2,494.80
Interested parties should make their own enquiries with the local authority as the property, as a whole, has not be assessed for rating purposes.
It is understood that the property is elected for VAT. Therefore, VAT will be payable on the rent and the purchase price.